NTPC lists at India International Exchange to raise $6 bn

By Sarkaritel January 31, 2018 09:43

New Delhi, Jan 31 State-run power generator NTPC on Tuesday said it has listed its $6 billion (Rs 40,000 crore) medium-term note (MTN) programme on the India International Exchange (India INX) at IFSC, GIFT City.

With this listing, the NTPC — formerly known as National Thermal Power Corporation Limited — became the country’s first quasi-sovereign company to list at India INX, the company said in a statement here.

“The listing will help the NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper,” it said.

The listing was done on January 24 on the Global Securities Market (GSM) of India INX, India’s first international exchange.

The GSM, which went live on December 8 last, allows for raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

“Now, for the first time in India, we have the opportunity to reach out to international investors to raise funds using a wide variety of products and currencies, in a similar manner, as available in other international markets,” NTPC Chairman and Managing Director Gurdeep Singh said in a statement.